New Owner Op Team Possible?

Hello fellow Truckers and Truckettes.

A friend and I are looking into teaming after 8 years of company driving between the both of us. We average 2800 miles a week, each of us, solo that is. We have lived together before and no issues.

We were hoping to get into the owner op side of team trucking. Drybox or reefer. We are both still employed and haven't rushed into anything yet. Just doing some recon first.

I'll be honest. I've looked at various information provided and it is all over the place. Anywhere from You will BURN IN A FIERY PIT OF POVERTY to boi i am making 5 hundred bazilllion a year and home everyday.

My question is how feasible is this? Are there any legit ways to accomplish this? Or easing into this? Perhaps a non lethal lease if that exist?

I figure a team should theoretically have a higher chance of success. I am willing to take the bulk of the risk being I have no family, car, kids, house, or bills to take care of. Very little debt (1 grand to keep credit active) average credit (650). It's low do to a business venture that covid so kindly ended for me.

I'd love to hear your thoughts on it if you have the time.

Hi. This is coming from someone who has compared company vs lease vs lease purchase for 7.5 years and has never found anyone at my company who can prove one make more than the other.

Example... You just said you assume team would make more. Negative. Team makes the same profit per mile. The rates do not double or triple per mile due to team freight and the costs of the co driver increase the operation costs.

When the market peaked, most of the lease ops at my company were at 80 to 95cpm net revenue before taxes. Now that we have hit the worst freight period in history (which is a horrible time to go lease or buy), those great numbers are offset by the terrible numbers. The "lease to date" average cpm net revenue appears to be between 63 and 70cpm right now... From what I have seen. That means a guy who made killer loads the first 2 years made so little his 3rd year that those profits were eaten up and had he stayed company he would have at least gotten paid vacations, 401k and benefits/workers comp.

I just met an owner op who did a lease purchase at my company. He had a net revenue of $1.1 million! Wow awesome... I til I saw it was 458 weeks... 8.8 years. And he averaged $2200 per week or $125,000 a year. It broke his heart to see i made a little.more as company.

Do what you want but ask people for proof in settlements before you accept what they say. Even my company states the average lease op makes $1600 per week after expenses. My former student.made $1850 last week as company. Why bother?

Rainy gave you some honest numbers. Now you have to consider to be profitable your going to be running 6-7k a week as a team. Also teaming means your living in close quarters, not a house or apartment setting for extended periods of time.

Alot of folks, espically lease operators love to throw big numbers out to make it look like they are making alot of money. Gross is far from net, espically running team miles a week. Maintance costs will be higher. Just the way it is.

Equipment has come down a little bit, but are still crazy high, rates are very low, and parts are in some cases still hard to come by in a timely fashion.

Leasing onto a company for freight is one way to get freight, but costs you a fair chunk of revenue. Load boards and brokers are horrible in my opinion. Your best option is too have your own customers, but that is difficult during the first year.

I’m not trying to through cold water on your dream, just pointing out alot of things you need to consider.